Leverage Technology for Location Growth

The Bulletproof Dental Podcast Episode 339

HOSTS: Dr. Peter Boulden & Dr. Craig Spodak

GUEST: Brian Colao

TAKEAWAYS

  • The dental industry is experiencing a shift towards same store growth as M&A activity becomes more constrained.
  • Understanding your EBITDA is crucial for practice growth and valuation.
  • Culture plays a significant role in practice value and patient satisfaction.
  • Innovation, technology, and AI are driving same store growth and improving patient care.
  • Joining a DSO can provide dentists with more opportunities for career advancement and financial stability. Working for a DSO can provide greater job security and protection against unpaid wages compared to private dental offices.
  • DSOs have better quality control measures in place, ensuring a higher standard of care for patients.
  • The dental profession is expected to become more consolidated, with DSOs accounting for a larger percentage of practices.
  • As consolidation increases, valuations are likely to rise due to decreased supply and increased demand.
  • The consolidation of the dental profession may pose an existential threat to insurance companies.
  • Market conditions, including interest rates and political factors, can impact deal flow in the dental industry.
  • Building a business that you don’t want to sell can be a viable alternative to selling, but it’s important to choose the right growth partner.
  • The DYKEMA Summit is an annual event that brings together dental professionals to discuss industry trends and best practices.

Chapters

00:00 – Introduction and Setting the Stage

01:19 – The Pulse of the Dental Industry

04:13 – The Importance of Knowing Your EBITDA

07:56 – The Changing Landscape of Dental M&A

12:43 – The Importance of Culture in Dental Practices

18:46 – The Transition to Same Store Sales Growth

23:05 – The Impact of Technology and AI in Dentistry

31:28 – The Advantages of Joining a DSO

34:43 – Benefits of Working for a DSO

35:49 – Quality Control in DSOs

37:03 – Consolidation of the Dental Profession

39:35 – Potential Threat to Insurance Companies

44:40 – Building a Business to Keep or Sell

49:43 – DYKEMA Summit

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REFERENCES

Bulletproof Summit

Bulletproof Dental Practice

Blog

State of Dentistry

, May 2, 2024

Who’s Got the Monkey

, April 17, 2024

Enrolling More Dentistry

, April 17, 2024

Freedom of Direction

, March 8, 2023

ALWAYS BE RECRUITING

, November 23, 2022

Bulletproof Storytime

, May 18, 2022

Mastermind Announcement

, May 14, 2022

Reduce the Friction

, March 30, 2022

Heroin and a Salary

, December 22, 2021

How it Started, How it’s Going

, December 10, 2021

All things Real Estate – Part 2

, November 24, 2021

All Things Real Estate – Part 1

, November 17, 2021

How To Talk To Your Team

, November 3, 2021

Your Revenue Doesn’t Matter

, October 21, 2021

Summit Wrap Up 2021

, July 28, 2021

Debt Repayment Methods

, June 16, 2021

Bottlenecks to Revenue

, June 9, 2021

The Bulletproof Pathway

, March 17, 2021

Comfort Zone & Lifestyle Creep

, February 17, 2021

1 VS. 5 Locations

, February 10, 2021

Team Alignment is EVERYTHING

, February 3, 2021

Work As Hard As You Can

, December 9, 2020

Becoming a Thoroughbred

, November 27, 2020

Dealing with Upset Patients

, October 22, 2020

Team Compensation Negotiations

, September 17, 2020

The Risk of Burnout

, September 9, 2020

When to Expand

, August 27, 2020

Don’t Blow Your Ask

, July 16, 2020

Your Last Dance

, June 2, 2020

Looking for Silver Linings

, April 7, 2020

HR Answers in a Corona World

, March 19, 2020

The Summit Recap

, March 3, 2020

Dr. Baird is BAAACK!

, February 20, 2020

The Insurance Conundrum

, January 9, 2020

2020: Your BEST Decade Yet

, January 2, 2020

Leadership with Dr. Jenny Perna

, December 19, 2019

Smartest in the Room

, September 19, 2019